3706.15
Exemption from taxes and assessments.

The exercise of the powers granted by Chapter 3706. of the
Revised Code, will be for the benefit of the people of the state, for the
improvement of their health, safety, convenience, and welfare, and for the
enhancement of their residential, agricultural, recreational, economic,
commercial, and industrial opportunities and is a public purpose. As the
operation and maintenance of air quality projects will constitute the
performance of essential governmental functions, the Ohio air quality
development authority shall not be required to pay any taxes or assessments
upon any air quality project, or upon any property acquired or used by the
authority under Chapter 3706. of the Revised Code, or upon the income
therefrom, nor shall the transfer to or from the Ohio air quality development
authority of title or possession of any air quality project, part thereof, or
item included or to be included in any such project, be subject to the taxes
levied pursuant to Chapters 5739., and 5741. of the Revised Code, and the bonds
and notes issued under this chapter, their transfer, and the income therefrom,
including any profit made on the sale thereof, shall at all times be free from
taxation within the state.